Bank on San Francisco

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					Bank on San Francisco

         January 20, 2006
                Hosted by
  Federal Reserve Bank of San Francisco
        Bank on San Francisco
                   Agenda

I.     Introductions
II.    Marketing Bank on San Francisco
III.   Product Development
IV.    Partnerships and Outreach
V.     Tracking
VI.    Other Business
        Bank on San Francisco
               Introductions
 Who’s here

 Why are we here
  o Turn a concept into a plan for action


 What will we accomplish today
  o Develop working groups
       Bank on San Francisco
  Marketing Bank on San Francisco

 Research on San Francisco’s banking landscape

 The Working Families Credit model

 Developing a strategy
        Bank on San Francisco
 Marketing Bank on San Francisco
 Developing a strategy (cont’d)
   o   Logo & tagline
   o   Brochure
   o   Buttons that say, “ask me about BoSF”
   o   Languages
   o   High profile launch
   o   Involving media
   o   Paid advertising
           Bank on San Francisco
                Product Development

 Product differentiation and product commonality
 Suggested Core Features
   o   Alternative identification
   o   Checkless checking
   o   Second chance checking
   o   Low/no fee accounts
        Bank on San Francisco
            Product Development

 Other Potential Features
   o Remittance product
   o Personal or short-term loan
   o Money orders
 Incentives
   o Monthly or quarterly drawing
   o Deposit bonus
      Bank on San Francisco
     Partnerships and Outreach

 Delivery of financial education
 Reaching employers
 VITA sites
 Other strategies
      Bank on San Francisco
Connecting Communities to Money
      Management Training
 EARN (Earned Assets Resource Network) is a
  local non profit dedicated to asset building
  primary tools including:
   o Matched Savings for Asset Investment
   o Financial Literacy Training
     Bank on San Francisco
  Connecting Communities to Money
        Management Training
 EARN will be working with participants in
  Bank on San Francisco to make connections
  between community groups and the financial
  management training offered by local
  financial institutions

EARN will connect Bank on San
 Francisco products to available training
      Bank on San Francisco
  Connecting Communities to Money
        Management Training

 EARN will work with local financial
  institutions, nonprofits and government to
  create an updated inventory of available
  financial literacy resources
     Bank on San Francisco
  Connecting Communities to Money
        Management Training

 EARN will reach out to communities in need to
  ensure that these resources reach low-income San
  Franciscans

 Actively seeking to hire a Coordinator
      Bank on San Francisco
     Partnerships and Outreach

 Reaching employers

 VITA sites

 Other strategies
          Bank on San Francisco
                         Tracking
 What data to collect
   o New accounts
   o Average balance
   o Length of account activity
 Parameters for data collection
   o Coding system
   o How often
 Qualitative information
        Bank on San Francisco
              Other Business

 Additional working groups

 Frequency of meetings

 Next meeting date